Instant payments are becoming a reality, driven in large part by consumers’ and business’ desire for payments that settle in seconds. FedNow, the Federal Reserves’ real-time payments solution, is in pilot today and scheduled for release in 2023. Financial institutions must use FedNow within seven years.
For financial institutions, the benefits of instant payments include the ability to offer new revenue generating mobile and online P2P payment options, improve customer satisfaction and retention, reduce costs and risks, and minimize the volume of payments traveling through closed-loop payments systems that disintermediate banks.
Preparing for instant payments through FedNow means addressing technology, operational, compliance, and organizational readiness. To evaluate where you are today and where you need to be, download this white paper and get ready to take advantage of the benefits of instant payments.
In that blog, I briefly examine Snowflake Procedures and discuss when Procedures should be used versus User Defined Functions (UDF)s. In the following, I am going to examine Snowflake Procedures further.Read more
In this blog post, I will explain how you can run all of your transformation processes using dbt directly on Airflow and take advantage of all its features. All of the code in this blog post is available at this GitHub repository.Read more